The AB=CD pattern is easy to identify on charts and consists of 2 equivalent price legs. It has specific Fibonacci measurements of each point within its structure, eliminating room for flexible interpretation. The C point must retrace to either a 0.618 or 0.786 and the BC projection is either 1.27 or 1.618. When the BC projection and the AB=CD completion converge closely and define a small area, the chance of a reversal increases.
The first target would be the 382 retracement of AD and the second target the 618 retracement of AD. A common stop level is behind a structure level beyond the D point. Conservative traders may look for additional confirmation before entering a trade, for instance an aligning RSI value or a specific candlestick pointing at a reversal. TradingView has a smart ABCD Pattern drawing tool that allows users to visually identify this pattern on a chart. There are several variations, based on CD being an extension of AB such as the 1.27 AB=CD or the 1.618 AB=CD pattern.
Monthly
- Respecting structure
Weekly
- Previous candlestick was Bullish Inverted Hammer.
Daily
- Trend line break out from previous leg.
4hr
- RSI is still bullish
1 Hr
- Price at strucutre
- RSI is making bullish moves
- Price at 70.7 level
- Respecting minor uptrend line.
Summary
- Will wait for nice reversal candlestick before taking a position.
We recently closed our last trade on this pair with 150pips profit (see link below for reference purposes) and it appears price is stalling for a correction move. See plan below
Tendency: Temporary Downtrend ( Bearish )
Structure: Harmonic | BAT
Observation: i. There is a price drop via XA leg.
...
We are presently enjoying a 121 pips profit run on the last speculation on this pair ( see link below for reference purposes). See follow up structure below for your attention;
Tendency: Temporary Downtrend ( Bearish )
Structure: Harmonic | AB = CD
Observation: i. Impulse A-to-B to be in harmony...
Tendency: Temporary Uptrend ( Bullish)
Structure: Harmonic | AB = CD
Observation: i. Impulse A-to-B to be in harmony with the B-to-C leg.
ii. The B- to-C leg is at 61.8% Fibonacci retracement of the A-to-B leg.
...
Sell gold when the small correction is over
Gold is in a big downtrend channel
and now is going to break down the recent
correction
sell gold till 1450 for a AB=CD completion
Price is moving inside parallel channel .We are measuring waves and see that We have A B = C D pattern.D point correlate with 1.618 Fibonacci level too.Expecting a bearish wave, same as previous 2 waves.
Aussie is at a monthly key level that I'm watching, THe market was very nonvolatile last week with thanksgiving in theUnited States. Keep in mine, for last week NZD/US moved a right back towards anyone spending all of their time trying to enter. By being dynamic traders we can not only adapt to but ahead of the market at all times.
LETS "B" Real with B 52
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BTC/USD (Bitcoin)
Wedge Breakout in 4h Chart & now Facing EMA50..
If Broke it (EMA50) Then Next Target Will be 7.8k Resistance..
According to ABCD Pattern, Target Will be 8323..
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The information given...
Two Trading possibilities found!
TRADE I
Tendency: Uptrend ( Bullish )
Structure: Falling Wedge | Breakout
Observation: i. Price action breaks out of Falling Wedge in anticipation of an uptrend continuation.
ii. Price above Moving Averages.
Trading Plan: ...
A double bottom is simply the opposite of a double top. This pattern normally occurs during a downtrend and is a signal of a reversal of the downtrend toward an uptrend. It’s easily recognizable by its resemblance to the letter “W”. The initial downward move will find a support at the first bottom and then the price action will rally off the support to a temporary...
After putting in a retracement to retest previous structure lows the S&P is now trading at the right should of what may turn out to be a head and shoulders bottom pattern.
The head and shoulders is a classic reversal pattern & IF completed I would predict that we're likely to retest the previous structure highs which line up at a one - to - one measured move & a...
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